Showing posts with label gold reserves. Show all posts
Showing posts with label gold reserves. Show all posts

Wednesday, 9 January 2013

Now ladies and gentlemen, are we all sitting comfortably?

Now ladies and gentlemen, are we all sitting comfortably? A particular date of interest may be 2001....this is the year boys and girls that Gordon Brown starts to enforce his shit. And after good old Kenneth's hard work too....pity. Notice, Gordon Brown's ineptitude is magnified by around a thousand as the only modern Chancellor to take a SURPLUS in the BOOM years to where we are now. Gordon, you fucked up so majestically, that words cannot even begin to give you enough credit.

UK budget deficit and party in power. Click image to embiggen

PROBABLE RESPONSE - 

You
"Oh but it was the bankers....."

Palpatine
"Uh, uh, uh. It was Gordon Brown and Labour who gave the bankers complete and utter carte blanche to play wild and loose with OUR money. Talk about City Fat Cats and Tories being in cahoots with one another, Brown took city schmoozing to an all time high baby! The financial regulations and restraints had become soft to the point of being laughable. During the Brown/Labour years friends of mine literally had everything on credit on a micro level. On a macro level, Brown just closed his eyes whilst the finance sector had the time of their lives. I won't even go into the fact that the government at the time got rid of its gold reserves for a pint and packet of fags thinking it would be sunny all summer. 

The depths of ineptitude that Brown plunged is just astoundingly staggering. 

PS - This is Andy's verdict in response to Labour's Shaggy impression....'It wasn't me'.

"What utter nonsense!
I know exactly who to blame for this mess:
Labour, and specifically Gordon Brown!

It was Brown, as chancellor who allowed the banks to take more and more risk with OUR money.
It was Brown who allowed the formation of all these banks "too big to be allowed to fail"
It was Brown who, despite being in a boom, spent more than we were bringing in in tax.
It was Brown who, showing his utter incompetence in understanding the facts about capitalist economic policies, proudly declared the end to boom and bust - yes you were right Winky - you changed it to boom, boom, borrow and bankrupt!
Don't start blaming the Condems for this muppets incompetence.

And don't go saying "it was a global problem" -the boom was as global as the bust, but I see double standards of the worst kind: Everything that goes right is down to me, everything wrong is "global" - pathetic. The reason we were so badly hit was down to his cosying up with the banks and allowing them to live the lifestyle we allowed them to: billions in bonuses knowing full well that the reserves were not sufficient but equally knowing that they had become so big that we, the tax payers, would have to bail them out when it all went pear... 

Had he supported manufacturing, agriculture  technology and all the other components of a well balanced economy as much as the champagne swigging chancers in the city we would have been more resilient to the crisis.

The truth is Gordon Brown was not the financial genius he convinced himself of. Remember the 10p tax fiasco? Anyone with a GCSE in maths could tell that that was always going to prejudice the low earners.

He betrayed his office, the country and the people. Even worse, he claims to be a socialist: New Labour did absolutely nothing for the working class other than Condem them to a fate of minimum wage, benefit handouts and poverty, and labour supporters, blinkered and bigoted, continue to come out with this rubbish in his defence."